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Wednesday November 21, 2012

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Bloom Lake Fallout

The news came out of nowhere. On Monday, almost five hundred workers on the expansion of the Bloom Lake iron ore mine near Fermont Quebec were sent home. The project is put on hold for about a year. The Bloom Lake company Cliffs, says ore prices have dropped and they are making adjustments to suit demands. There are other mines in the area commonly called the Labrador Quebec trough, and there are projects getting ready to start. So how do people in Labrador West feel about this latest development? Labrador Morning’s Mike Power hit the local mall to find out. This news comes as no surprise to John LeBoutillier. He spent years in the iron ore industry, some of those as CEO of the Iron ore company of Canada. Mike reached him in Montreal . and The other big project in Labrador West is the Kami Project, or as most people know it…. Alderon. Mike reached President and CEO , Tayfun Eldem in Montreal